Exam 1: Review and Applications of Basic Mathematics

Round the following to four-figure accuracy: 1.0023456

12¾% of what amount is $27.50 accurate to the cent?

A manufacturing operation began with 85 staff members. On April 1, 4 employees were hired; on June 1, 3 employees retired; and on November 1, another 3 employees were hired. Determine the average number of workers during the year.

80% of what amount is $100?

Evaluate the following:

Evaluate the answer correct to the cent:

The assessed value on a property increased from $285,000 last year to $298,000 in the current year. Last year's property tax rate was $1.56324 per $100 of assessed value. a) What will be the change in the property tax from last year if the new tax rate is set at $1.52193 per $100? b) What would the new tax rate have to be for the dollar amount of the property taxes to be unchanged?

Evaluate the following accurate to the nearest cent:

A piece of property valued at $2,000,000 is assessed for property tax purposes at 70% of its value. If the property tax is $20.00 on each $1,000.00 of assessed value, what is the amount of tax?

David earned $59,000 last year. Tax rate earned on the first $20,000 is 15%; 25% on the next $25,000 and 30% for the remainder of income. What was the average tax rate?

Evaluate the answer correct to the cent:

Havel signed a listing agreement with a realtor. The commission rate is 4% on the first $200,000 of the selling price, and 2.5% on the remainder. a) What commission will Havel pay if he sells his home for $289,000? b) What is the average commission rate on the selling price?

Ms. Yong invested $16,800 in a Canadian equity mutual fund, $25,600 in a U.S. equity mutual fund, and $31,000 in a global fund that holds a variety of foreign securities. If in the subsequent 6 months, the value of the units in the Canadian fund dropped by 4.3%, the U.S. fund declined by 1.1%, and the global fund rose by 8.2%, what was the overall rate of return on Ms. Yong's mutual fund portfolio for the 6-month holding period?

Unusually high snowfall in January caused the City of Calgary to exceed its January snow removal budget. In January, the city spent $32 million dollars, which represents 129.4% of its snow removal budget for the month. Rounded to the nearest $100,000, what amount did Calgary budget for January's snow clearance?

The value of (6 × 3 - 4)³ ÷ (7 + 8 ÷ 2²) is 304.89

Calculate of $666.66 accurate to the cent.

The school board in a municipality will require an extra $2,430,000 for its operating budget next year. The current mill rate for the school tax component of property taxes is 7.1253. a) If the total of the assessed values of properties in the municipality remains at the current figure of $6.78 billion, at what value must next year's school mill rate be set? b) If the total of all assessed values rises by 5% over this year's aggregate assessment, at what value must next year's school mill rate be set?

An investor purchased shares of Acme Company as follows: 500 shares @ $10 per share, 10,000 shares @ $6.00 per share, and 1,000 shares at $4.00 per share. What is the investor's average cost per share?

Give three examples of values which have only two or three digits but nevertheless are known with perfect accuracy.

Hillary sells cosmetics from her part-time home-based business. She receives a straight commission of 21% from her supplier. At the year-end, she also receives a 7% bonus on sales exceeding her annual quota of $50,000. What will her gross annual earnings be for a year in which her average monthly sales are $5,500?